BUDGET 2026-27: Centre, Punjab & Sindh agree on spending cuts
• Budget likely on Friday after president summons NA, Senate sessions today • National Economic Council finally set to meet today; KP still weighing participation • Federal, provincial govts to jointly cover Rs800bn shortfall • Extra FBR revenue to stay with Centre; ‘strategic needs’ may require Rs1.3-1.7tr • Sindh, Punjab agree to cut ADPs; KP, Balochistan not yet on board • Uplift plans worth Rs4.715tr likely to be revised down ISLAMABAD: Signs that the federal budget may b
Pakistan's federal budget for the 2026-27 fiscal year is anticipated to be presented on Friday, following the summoning of National Assembly and Senate sessions. The National Economic Council (NEC) is scheduled to convene to finalize development plans after an agreement was reached for federal and provincial governments to jointly address an Rs800 billion revenue shortfall. This agreement includes provinces like Sindh and Punjab agreeing to reduce their development spending and other expenditures. Any additional revenue generated by the Federal Board of Revenue (FBR) above current levels will be retained by the federal government to meet "strategic needs," potentially ranging from Rs1.3 to Rs1.7 trillion.
This budget agreement signifies a shift in fiscal federalism, with the central government securing more revenue and provinces agreeing to spending cuts, which could impact development projects and provincial autonomy.
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